1. Enhanced Investment Incentives and Support in High-Tech Parks

On February 1, 2024, the Government issued Decree No. 10/2024/ND-CP regarding high-tech parks (hereinafter referred to as "Decree 10/2024/ND-CP"). Accordingly, Decree 10/2024/ND-CP has introduced preferential policies and investment support for enterprises operating in high-tech parks. Some specific incentives include:

1. Investment projects and activities in high-tech parks are prioritized to participate in training and labor recruitment programs; support programs for research and application of high technology, technology transfer; support programs for the development of high-tech industries, development of high technology in agriculture; support for innovative enterprises, small and medium-sized enterprises in creative startups; support for loans and other support programs of the Government, ministries, sectors, and localities.
    
2. Investment projects in construction and business of infrastructure enjoy incentives such as exemption from land lease fees, compensation, land clearance reimbursement according to regulations on land lease fees in high-tech parks.

3. Investment projects in construction and business of infrastructure in high-tech parks are prioritized for State credit investment loans, implementing forms of legal capital mobilization according to enterprise law, credit law, and other relevant regulations.

Decree No. 10/2024/ND-CP takes effect from March 25, 2024

2. Implementation Plan of the National Power Development Master Plan for the 2021-2030 Period

On April 1, 2024, the Prime Minister issued Decision No. 262/QD-TTg 2024 approving the Implementation Plan of the National Power Development Master Plan for the 2021-2030 period, with a vision towards 2050 (hereinafter referred to as "Decision 262/QD-TTg 2024").

Accordingly, important power projects prioritized for investment by the sector until 2030 will be based on Section 1 of Section II in the Implementation Plan of the National Power Development Master Plan for the 2021-2030 period, with a vision towards 2050, issued together with Decision No. 262/QD-TTg in 2024, including:

2.1 The prioritized power projects include:

• Domestic gas-fired thermal power with a total capacity of 14,930 MW;

• LNG-fired thermal power with a total capacity of 22,400 MW;

• Coal-fired thermal power with a total capacity of 30,127 MW;

• Combined-cycle power plants, excess heat utilization, blast furnace gas, and by-products of technological chains with a total capacity of 2,700 MW;

• Hydropower with a total capacity of 29,346 MW;

• Pumped-storage hydropower with a total capacity of 2,400 MW.

2.2 ​Renewable energy projects include:

• Offshore wind power with a total capacity of 6,000 MW;

•  Onshore wind power (wind power on land and nearshore) with a total capacity of 21,880 MW;

• Hydropower with a total capacity of 29,346 MW;

• Biomass power with a total capacity of 1,088 MW;

• Waste-to-energy power with a total capacity of 1,182 MW;

• Additional rooftop solar power (self-generation, self-consumption) with an increase of 2,600 MW;

• Energy storage batteries with a total capacity of 300 MW.

Decision No. 262/QD-TTg 2024 takes effect from the date of signing (April 1, 2024).

3. Regulations on investor selection incentives

On February 27, 2024, the Government issued Decree No. 23/2024/ND-CP providing detailed regulations on certain provisions and measures for the implementation of the Bidding Law regarding the selection of investors to implement projects subject to bidding requirements under sectoral and field management laws (hereinafter referred to as "Decree 23/2024/ND-CP"). Accordingly, Decree 23/2024/NĐ-CP introduces several notable new provisions, including:

3.1 Regulatory Scope: 

Decree 23/2024/ND-CP stipulates 15 sectors and projects that fall under the requirement to conduct bidding for the selection of investors according to sectoral regulations, including sectors such as transportation, water supply, gambling business, housing, socialized healthcare, education, etc.

Furthermore, projects within the regulatory scope of Decree 23/2024/ND-CP must meet the following two conditions:

• Land recovery cases: In projects implemented on land areas with portions managed by the state, the state will recover the entire project area, including land managed by the state within the project scope.

• Ineligibility for land use rights auction: Projects must not meet the requirements for organizing land use rights auctions or fall under the category of auctioning state assets as per land laws and regulations on management and use of state assets.

​3.2 Procedure and process: 

Decree 23/2024/ND-CP provides detailed regulations on the procedure and process for selecting investors from project announcement, bidding organization to contract signing and project implementation.

The project announcement procedure is synchronized with the procedure for investment decision-making under investment laws, serving as the basis for competent authorities to organize the preparation of expressions of interest and bidding documents for investor selection.

The procedures for selecting investors are specified under various bidding forms, including open bidding, restricted bidding with one-stage one-envelope and two-envelope approaches.

3.3  Evaluation methods, criteria suitable for each sector, field within the regulatory scope:

According to the Bidding Law, the bidding documents of investors are evaluated based on social and state benefits, through criteria such as:

• Capacity, experience; 

• Investment business plan;

• Land use efficiency, investment effectiveness for sectoral and local development. 

Thus, investors meeting the minimum score for each criterion and having the highest overall score are ranked first.

Decree 23/2024/ND-CP takes effect from the date of signing (February 27, 2024).